Mortgage Investors Group Reports Data Breach
On December 11, 2024, Mortgage Investors Group (MIG) experienced a cybersecurity incident that compromised its network infrastructure. The breach was discovered on December 12, prompting MIG to engage a specialized cybersecurity firm to conduct a comprehensive forensic investigation and enhance security protocols.
Details of the Incident
The investigation revealed that an unauthorized user gained access to MIG’s computer environment, leading to the exposure of sensitive personal information of certain individuals. While the specific data compromised has not been fully disclosed, it is possible that full names and certain financial information were exposed. MIG has stated that there is currently no evidence of fraudulent misuse of the information and no reports of related identity theft.
Actions Taken by MIG
In response to the breach, MIG has taken several steps:
- Engaged a vendor to identify affected individuals and the types of information compromised, a process expected to take several weeks.
- Committed to notifying all affected individuals directly via U.S. First Class mail, providing details about the incident and steps to protect their information.
- Offered complimentary credit monitoring and related services to assist affected individuals in securing their information.
- Implemented additional security measures to protect against emerging cybersecurity threats.
Recommendations for Affected Individuals
MIG advises all individuals to remain vigilant by monitoring their financial statements and credit reports. They recommend obtaining a free credit report, placing a fraud alert on credit files, and updating passwords to complex, unique ones. Affected individuals are encouraged to take advantage of the complimentary credit monitoring services provided by MIG.
Industry Context
This incident adds to a series of data breaches affecting the mortgage industry in recent years. For instance, in October 2023, Mr. Cooper Group, a major mortgage servicer, suffered a cyberattack that exposed the personal information of approximately 14.7 million customers. Such breaches highlight the ongoing cybersecurity challenges faced by financial institutions and underscore the importance of robust data protection measures.
Conclusion
MIG has expressed a commitment to the security and privacy of its customers' personal information and has apologized for any inconvenience caused by the incident. The company is working diligently to enhance its cybersecurity measures and prevent future incidents.